Burlington weekly free press. [volume] (Burlington, Vt.) 1866-1928, 1887-02-25
THE SHIP RAILWAY BILL,



WAsHINGTON, Feb. 17.-The Senate to-
day resumed consideration of the Eads
Tehuantepec ship railway bills and Mr..
Vest offered new substitute for the bill.
1t recites that the government of Mexico
has granted to Capt. Ead's concession for
the construction and operation of Il ship
railway across the isthmus of Tehuante-
pee and has authorized him and his asso
ciates to obtain Il charter either in
Mexico or elsewhere. 1t therefore incorpOr
ates James b. Eads and some so other per
sons named under the name and title of the
Atlantic and Pacific Ship Railway com
pany. The stock is not to exceed $780,
000, 900, and when 10 per cent Of the stock
is subscribed for and 10 per cent thereon
paid in cash meeting OF the stockholders
is to be held in Washington or New York
for the election of directors. If 10000 600
of stock is not subscribed for aud 10 per
cent in cash is paid thereon within two
years the charter is to expire by limita-
ton.
Mr. Morrill, spoke of the project rs being
vast and magnificent, but its success was
problematical. The chances in its favor
were certainly not more than one in two.
He hoped it would succeed, but he thought
greater guards and security should be
placed around the issue of bonds.
Mr. Van Wyck offered to this substitute
an amendment that no certificate of stock
shall he issued until it shall have been
fully paid for in money at par vaine and
that no bonds in excess of the amount of
capital actually-pad in shall be issued,
and that no bonds shall be issued or dis
posed of at less than their par value. He
spoke of the necessity for the adoption of
Gil tn ba
tory of the Union Pacific Railroad com
pany and of the Credit Mobiler with
which rs patriotic and respectable men
were connected as there We're connected
with the Tehuantepec measure, and Massa
saChusettS men, too.
Mr.. Dawes took umbrage at this refer
ence to Massachusetts men in connection
with the Union Pacific and Credit Mo
blller and SAID the country owed the eX
istence of the Union Pacific to Massa-
chuSettS men. SANDER had been heaped
upon these Massachusetts men in the
past by those who We're unworthy to I'M.
loose the latchets of their shoes. Van
Wyck retOrted thatif the other senator of
Massachusetts (Hoar) were present he
would refer TO him (he having signed a re
port to the House in regard to these
Massachusetts mem as to the unworthi-
ness OF certain people to unloose the latch
els of their shoes. Dawes denied that
Senator HOar had ever signed n report
that could be interpreted as condemna-
tory of Massachusetts
Van Wyck suggested, in a bitterly sar-
castle one, that Massachusetts men had
done their full share in heaping reproach,
IN regard to this matter, on Massachusetts
men. He lntimated that Senator Dawes
was unduly incensed and that there
was no occasion for such a parade Dawes
replied that the Senator from Nebraska
was mistaken if he expected that he
could villify Massachusetts men who had
earned an honorable name in the world
and, that a MISUNDERSTANDING would
listen to it in silence
Van Wyck suggested that if he had
referred to Massachusetts men having
been once engaged in the slave trade no
one would say that was such a
reproach upon Massachusetts men
as should call upon the Massachusetts
senator to talk about "parade,"
At subsequent stage of the roceedings
Hoar reverted To this discussion. He said
ne Inferred from the little of the colloquy
he heard that the senator from Nebraska
had made some attack or criticism upon
very eminent citizen of Massachusetts
now gone to his grave (meaning Cakes
Ames) and he cited the report which he
(ioar) had made in the House OF Repre-
sentatives. Van Wyck dsclaimed all
allusion to Ames and said he had only
spoken of the system.
On motion of Mr.. Hoar the amendment
offered by Van Wyck was amended by the
provision that 10 per cent of the stock is
to be subscribed for and paid before the
issue of certificates and shall not be as
signable until the whole of it shall have
been paid in, and that no bonds shall be
authorized or issued until the paid in
capital shall amount to $1,000, 900 (insLead
OF SlO,O0O,OOOl as amended Van
Wyck's amendment was agreed to.
The substitute offered by Vest to day as
amended by Van Wyck was agreed to
without division and bill as thus amended
was passed, yeas 46, nays I. Nays were
Messrs. Ednunds, Jones of Arkansas,
Morrill,, Platt, Vance, Van Wyck and
Wilson of Iowa, Senate then or motion
of Edmunds took up the bill to inaugu-
rate the Maritime Canal company of
Nicaragua. 1t went over till tomorrow
as unfinished business.